Cantor Comments on Aurinia Pharmaceuticals (AUPH) Following 1Q18 Update
Cantor analyst Elemer Piros is out with a short research note on shares of Aurinia Pharmaceuticals (NASDAQ:AUPH), following the company’s first-quarter financial results and update on its pipeline.
Piros wrote, “Management hosted a conference call, which reviewed the company’s plans for the rest of 2018 and its pipeline development strategy. We believe execution will become the theme for 2018, during which Aurinia is to continue to enroll its Phase 3 AURORA study and initiate Phase 2 studies for focal segmental glomerulosclerosis (FSGS) and Dry Eye Syndrome (DES). Although we currently do not model FSGS and DES programs, successful results from these studies could significantly broaden the opportunity for voclosporin and provide upside to our estimates. On the AURORA front, Aurinia has activated a total of 212 clinical sites around the globe and reiterated its timeline to complete enrollment before the end of the year. We are encouraged by the progress and remain focused on the Phase 3 readout in 2H19.”
As such, Piros reiterates an Overweight rating on shares of Aurinia, with a price target of $16.00, which implies around 200% upside from today’s closing price of $5.26. (To watch Piros’ track record, click here)
How does Piros’ bullish bet measure up against the word of the Street? Quite on point, it seems, considering TipRanks analytics exhibit AUPH as a Strong Buy. Out of 5 analysts polled in the last 3 months, all 5 are bullish on Aurinia stock. With a return potential of 120%, the stock’s consensus target price stands at $11.60.
Aurinia is a clinical stage biopharmaceutical company focused on developing and commercializing therapies to treat targeted patient populations that are suffering from serious diseases with a high unmet medical need. The Company is currently developing voclosporin, an investigational drug, for the potential treatment of LN, FSGS and DES. The Company is headquartered in Victoria, BC and focuses its development efforts globally.